12.30 OZIL UPDATE: Reports floating about saying that the German is having a medical for Arsenal!

12.28 Kaka is back home . He signed a 2 year deal and has said he very happy to be back.

12.25 Bale ends his welcoming speech to the Madrid fans in perfect Spanish and the Bernabeu erupts.

12.17 Gareth Bale is being presented to the Press and the Real Madrid fans at the Santiago Bernabeu

12.14 OZIL UPDATE, amid several sources claiming the deal is nearing completion. He’s now 1/10 to join the Gunners with Manchester United out to 16/1.

12.01 Sevilla have agreed a deal to sign Russia forward Denis Cheryshev on loan fromReal Madrid for this season.

11.47 West Brom have made a shock inquiry regarding QPR goalkeeper Julio Cesar.

11.46 Goal reporting that Ozil is scheduled for an Arsenal medical this afternoon. 40million pound fee agreed; close to agreeing personal terms but deal not finalized just yet. More to follow, I'm sure!

11.40 Jack Hunt has joined Crystal Palace on a four-year deal from Huddersfield Town

11.38 UPDATE: Transfer record fee between Arsenal and Real Madrid agreed, now down to Mesut Ozil who is in Germany.

11.36 West Brom in talks with Everton forward Victor Anichebe.

11.31 HOWEVER - John Cross at the Mirror believes Ozil has agreed a deal at Arsenal. More to follow I'm sure.

11.25 OZIL UPDATE: Manchester United had contacted Ozil's representatives regarding a move, however - they were not willing to match the 40million + fee. However, reports in Italy claim that Arsenal's bid for the play-maker has been matched by PSG.

11.19 Arsenal are back in for Angel Di Maria.

11.13 Reports coming in that Blackpool are eyeing moves for Bristol City striker Sam Baldock and former Wolves winger Stephen Hunt

11.11 The Bernabeu is, safe to say, not full with the impending arrival of Gareth Bale. A few thousand there so far. Given that they got at least 80000 for Cristiano, a stark contrast.

11.03 Sky claim that Everton have had a bid rejected for Wigan midfielder James McCarthy.

11.02 Liverpool Football Club have announced the season-long loan signing of Chelsea forward Victor Moses.

10.59 Real Madrid have confirmed that Gareth Bale has passed his medical at the club.

10.50 Reports coming in that Jose Mourinho is keen on a reunion with Sami Khedira

9.41 AC Milan have released a statement on the return of Kaka. 'Today everything comes back on itself. It may not be exactly as it was back in 2003 when the young Brazilian stepped off the plane in Milan with a fresh and innocent look on his face. This is another story completely but what matters is Ricardo is back.'

9.36 David Moyes arrived into Carrington just before 9am this morning, Bridgewater Hospital on alert in case of medicals from both Manchester clubs.

9.33 QPR set to win the race to sign Tottenham midfielder Tom Carroll on loan.

9.31 Spanish football writer Andy West from the BBC believes Manchester United will finally sort out their midfield with a final 36million euro bid for Ander Herrera.

9.29 Sunderland close to loan signing of ex-Liverpool man Dossena, according to the Daily Mail.

9.25 Leon Osman hopes Everton can hang on to Man Utd targets Marouane Fellaini and Leighton Baines. Could the duo be heading to Old Trafford today?

9.24 Italian rivals Roma and Lazio are ready to battle it out for the signature of Juventus striker Fabio Quagliarella according to Corriere dello Sport.

9.23 Sky Sports journalist Peter O'Rourke believes Tottenham might not be finished in the transfer market just yet as they eye a move for Real Madrid's Fabio Coentrao.

9.21 Real Madrid's Mesut Özil would prefer a move to Manchester United over Arsenal. According to Sky Sports' expert Graham Hunter.

9.20 Reports in Spain suggesting Real Madrid's Mesut Ozil is set to snub a move to Arsenal despite both clubs agreeing a deal.

9.16 EARLY MORNING DEALS: Kaka from Real Madrid to AC Milan. Morgan Amalfitano from Marseille to West Brom. Marko Arnautovic from Werder Bremen to Stoke. Mamadou Sakho from Paris Saint-Germain to Liverpool. Tiago Ilori from Sporting Lisbon to Liverpool. Christian Atsu from FC Porto to Chelsea. Christian Atsu from Chelsea to Vitesse

9.12 Mamadou Sakho on his move to Liverpool: 'I came here because the project at Liverpool interests me. I'm looking forward to playing my first game.'

9.11 Manchester City are now favourites to sign Stephan El Sharaawy after Milan re-signed Kaka.

9.10 Wigan Athletic say they have not recieved a second bid from Everton for midfielder James McCarthy. Could this jeopardize any deal for Marouane Fellaini and Manchester United?

9.07 Kaka is set to re-join AC Milan from Real Madrid on a two-year deal, subject to a medical.

9.05 Already we have a huge summer signing completed and it's for Liverpool FC. They have announced the signing of Frenchman Mamadou Sakho from Paris Saint-Germain.

Hello and welcome to our LIVE blog of today's Transfer Deadline Day.

It's a day of full of football rumours, gossip, big-money moves, near-misses and disappointment. Be sure to spend the day with us here for all the latest moves, as we keep you up to date with every big summer signing.